Matthew (7:7-8): “Ask, and it will be given to you; seek, and you will find; knock, and it will be opened to you. For everyone who asks receives, and the one who seeks finds, and to the one who knocks it will be opened.”
Bruuhhhhhh.... you have missed ALL the signals! You've run EVERY red light!Which bank(s) in the EU have you dealt with? Turkey's tax authority is of no threat, obviously, which number are you referring to?
And you clearly have no idea of what you're talking about and never been a resident of Monaco. Getting back your "Monaco rEsIdEnce" is as easy as going back and reapplying.And next year you will regret having paid taxes and spending time speaking with tax men. Instead of just living your life. Loosing Monaco residence I think most tax lawyers would say it would be worst idea in life!
Can you elaborate why you no longer feel Monaco is not for you and you prefer some other presumably Eastern European country?
Educate me dear sir, , the setup being described here with no tax residency anywhere only works until it doesn't. Some financial institution will eventually ask for a tax id number of some sort of proof of tax compliance in your place of tax residency. If not for any reason than further due diligence, compliance, etc. It is not a sound setup IMO.
25% might be acceptable if you get something in return, in particular freedom.I'd rather pay 25-35% tax in my home country and be a normal person, not an individual obsessed with not paying taxes, governments and "tax men".
Surveillance, police, informers, the patron…How does Monaco lack freedom?
That’s why I wrote 50%. Is there any warehouse, an airport, or some free land where to build?Infrastructure in Monaco is great, mind you Monaco is 1/2 the size of NYC's Central Park. The roads, hospitals, tunnels, port, internet and every other aspect of civilian infrastructure is A+.
Have you ever lived in Monaco? I'm 100% sure most people defending Monaco on this forum have never lived there, save for a few. It's NOT a nice place. It's ugly, noisy, 0 infrastructure, lackluster services, loads of shady people. Can't deny I met some lovely people, most are regular Monegasque citizens, but the rich immigrant people are insufferable for the most part.Surveillance is a necessity and is encouraged by the residents, not to mention it is everywhere nowadays, the phone and computer you're using to write this post is surveilling you, not even going to mention the meta data being collected from every single piece of networking equipment on the internet between you and all the web servers, CDNs, and more by 5 eyes countries.
The Police in Monaco don't bother anyone unless you're acting out, mostly driving recklessly. It is nice to see that concentration of police, thieves are caught immediately, there is zero street crime. Monaco is what it is; a place for the wealthy to spend a few months, some live full-time, but the majority do not. The real estate is of very high quality, the events too, and the restaurants and beach clubs are also very good, the close proximaty to the French rivera and Italy are also a major plus. Outside of that it is not obviously comparable in lifestyle to a large city such as London, Paris, NYC, Milan. But for what it is, it is very unique. You cannot replicate Monaco in any LATM, Caribbean, or SEA country.
Financial institution isnt really such a big problem when not being tax resident anywhere. There are so many options available:Educate me dear sir, , the setup being described here with no tax residency anywhere only works until it doesn't. Some financial institution will eventually ask for proof of tax compliance in your place of tax residency. If not for any reason other than further due diligence, compliance, etc. It is not a sound setup IMO. It does however work and is cheap and "effective".
How would that work for something like this then? Opening A Bank Account In Netherlands Without Residency ProofThis doesnt work in countries where a bank account is a tie that counts for tax residency like in the Netherlands
The Netherlands uses a long list of not clerly defined ties to determine tax residency. Bank account is one such tie. They look at the overall picture, so having a dutch bank account doesn't necessarily mean you become a dutch tax resident. But if I was dutch and wanted to leave the country and stop being a dutch tax resident, I would have closed all my dutch bank accounts to be on the safe side.How would that work for something like this then? Opening A Bank Account In Netherlands Without Residency Proof
PS. I know several people from the EU (not Dutch) with bank accounts in the Netherlands. Would they get taxed in the Netherlands?
I feel this is the KEY!if I was dutch and wanted to leave the country and stop being a dutch tax resident, I would have closed all my dutch bank accounts to be on the safe side.
Lol. You just proved my point. You sound like the typical Riviera wannabe fanboy that's never been an actual resident. Those clubs you mentioned are rancid.Where do you live? You've obfuscated that and apparently dislike every place so it is very curiosity invoking to know where you currently reside. You appear to be having some sort of regret with your decision as you need to validate it with these simply inaccurate statements.
It is clear why you do not fit in and see the French Rivera as overrated. Firstly, the French Riveria is a vacation spot. To somehow discredit it for not being a tech hub (the worlds tech hub is Silicon Valley, which you likely know, and it is a literal s**t hole with one half being a typical American suburb and the other being a city, San Francisco, overrun with junkies and homeless people with the highest tax bracket being around 62%) is moronic.
The Rivera for 100+ years been the most elite vacation destination in the world for world elites for multiple reasons including natural beauty, entertainment, gastronomy, and the fact that it is so close to the industrial and financial centers of Europe. Nobody lives there full-time, they visit for the summer. Almost every city on the Riveria short of some small parts of Marselle which you'd never visit are pristinely clean. "Gucci hat wearers", whatever that even means, there are actually very few people that wear ostentatious gaudy designer clothes, most wear stealth wealth brands such as Loro Piana and or wear tailored clothing most often made of linen.
Have you been any historic beach clubs like Le Club 55, La Plage Keller, or any of the vaunted Michelin star restaurants in Monaco or Provence such as Baumanière? If you have, you would've never made the simply inaccurate statement. The crowds are absolutely not shallow, most are from large cities in Europe, most have careers in finance, tech, or have businesses, in fact there are many families with children at these establishments.
You seemed to have gotten very poor advice and are the typical small business owner that made an impulsive decision to relocate to save some money in taxes not realizing that to fully enjoy and realize the potential of tax optimization you have to consider the fact you will need to have multiple residencies and live in two different places at a minimum. Monaco is not dirty, the infrastructure is anything but poor. As for shady people, that an opinion, not a fact, Monaco is one of the safest places on earth, the saying holds true in any capital city "behind every fortune is a crime". Most Monaco residents spend at the most 3-4 months in Monaco, enjoy the events, beach clubs, restaurants, and the rest of the time are in another home.
3-4 months? If the authorities notice you're not around Monaco +183 days in a year expect to be in big troubleMost Monaco residents spend at the most 3-4 months in Monaco, enjoy the events, beach clubs, restaurants, and the rest of the time are in another home.
The dude doesn't know what he's talking about. D*ck riding a jurisdiction he knows nothing about. Sad!3-4 months? If the authorities notice you're not around Monaco +183 days in a year expect to be in big trouble